YEREVAN, January 26. /ARKA/. The Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilization and Development (EFSD), has announced the results of a call for applications for the second EFSD grant competition for social projects. Armenia, Kyrgyzstan and Tajikistan were invited to participate.

The EFSD Secretariat received 46 applications for project finance, totalling US $84.5 million. Armenia submitted the greatest number of applications (28, for a total of US $43.0 million), followed by Kyrgyzstan (12, for US $25.4 million) and Tajikistan (6, for US $16.1 million).

EDB said the majority of submissions are projects in the area of social security, including food security (15), training and education (14) and public governance (11). In addition, 6 healthcare projects were proposed. The average requested per application approximates US $1.8 million.

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The office of Armenia’s financial ombudsperson will open a representative office in Artsakh (Nagorno-Karabakh), the ombudsperson Piruz Sargsyan told journalists on Wednesday

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YEREVAN, January 24. /ARKA/. Armenia’s financial ombudsperson’s office received 5,020 finance-related complaints in 2017, by 6.2% more than it received in 2016, the financial ombudsperson Piruz Sargsyan said to a news conference.

She said thanks to her office’s mediation, the country’s financial organizations paid clients more than 181 million drams in compensation claims.

She noted that the main part of complaints was against the poor work of insurance companies, which failed to consider justly cases involving mandatory insurance of vehicles.

The other part of complaints was against banks and credit organizations, related to consumer and other lending and deposit agreements.

The first financial ombudsman office in the Commonwealth of Independent States was established in Armenia and started functioning on January 24, 2008. ($ 1 – 481.17 drams). -0-

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The combined assets of 17 commercial banks operating in Armenia amounted to 4.362 trillion drams in 2017, having upped by 6.6 percent from the previous year, according to a ranking of Armenian banks by size of assets compiled by Arka news agency

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Armenia’s Central Bank said it will buy new and old banknotes and coins from individuals and legal entities which in different periods were in circulation in the territory of historical Armenia in order to replenish its collection

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The chairman of the Central Bank of Armenia Artur Javadyan signed on January 18 a Memorandum of Cooperation with the International Organization of Securities Commissions (IOSC)

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Armenia’s banking sector reported a growth in all major financial indicators last year. According to their official statements, their combined assets totaled 4.362 trillion drams, having grown by 6.67% from the previous year

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Armenia’s commercial banks bought around $79.3 million from the local foreign currency market on January 15 to 19 at the average weighted exchange rate of 482 drams per one USD, the Central Bank of Armenia reported on Monday

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On Friday, representatives of the Armenian finance ministry told Karen Karapetyan, prime minister, that the indicators of 2017 exceed the figures projected in the government budget, the government’s press office reports

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The Armenia-based Araratbank said today it will place the 17th issue of USD-denominated bonds with a total value of $8 million

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